Posts Tagged ‘Mtgox’

Yesterday the BTC-e crypto currency exchange went offline with some unexpected technical issues cited as the problem. The website is still not available online and there has been some unexpected, yet interesting development happening in the meantime. Reuters has reported that Greece arrests Russian suspected of running $4 billion bitcoin laundering ring and the person in question (Alexander Vinnik) is apparently associated with BTC-e in some way or another and the exchange has apparently been used for money laundering according to the information. Meanwhile WizSec has released an update regarding the MtGox hack tying the person in question with laundering the Bitcoins stolen from MtGox (not the actual “hacker” or hacker it seems). Apparently more details regarding the MtGox connection, the BTC-e case and money laundering are yet to follow…

As announced in November last year, Kraken was selected by the MtGox trustee after extensive and objective review to assist MtGox creditors in investigating missing Bitcoin, filing claims, and distributing remaining assets. Now Kraken is accepting MtGox creditor claims and offering up to $1 million in free trade volume per creditor as a bonus for claiming funds through Kraken. The claim and payout service through Kraken is available in all areas of operation, including all US states.

Creditors claiming funds with Kraken can expect the following benefits:
– 100,000 KFEE credits redeemable for up to $1 million in free trading volume at the lowest fee tier of 0.1%
– Creditor claim and payout support with live chat and email
– Option to receive funds in the form of Bitcoin
– An easier and more convenient process from claim to payout

Note that you are not required to file your claim through Kraken and can instead elect to make your claim through the alternative system provided by the MtGox trustee, but Kraken has already proved to be a trusted and reliable service, so we are filing our MtGox claim through them. If using Kraken, then your Kraken account must be verified to Tier 2 or higher to make a claim, so make sure you have already verified your account up to that level at least. If you have a claim to file, you can get started by logging in to your Kraken account, and following the instructions under the “MtGox Claim” tab. Do note that filing your claim through Kraken does not guarantee that you will be getting back all your funds and Bitcoins that were available in your MtGox account!

Once you initiate the claim procedure you will need to first visit the dedicated MTGOX online bankruptcy claim filing system where you need to provide your username and password for MtGox. You will be getting a temporary authentication code to your MtGox registered email address to verify your identity and set a new password to continue. Then you can switch back to Kraken or continue using the claims system on the MtGox website. When you are back on the Kraken website you will need to fill in some personal details and answer some additional questions before you can complete your claim filing procedure. After that all that is left for you is to wait…

It seems that the Tokyo District Court of Japan has sent post cards to all of the MtGox users detailing what is happening and what procedures will be taken from now on regarding the order of commencement of bankruptcy proceedings for the MtGox. People have started receiving these notices by mail and today we also just got our notice. The contents of the card are apparently identical, so no personal information such as what is the amount of BTC or cash you’ve had in the exchange when it was closed, but you can still check your balance from the official website.

Here are the details from the post card we have received in English, there is also a Japanese version on the other side that we did not scan. We expect that every user of MtGox will be getting one of these, so if you were using the Bitcoin exchange you are most likely going to get one too if you still haven’t. So don’t be surprised if/when you get one of these in your mailbox in the following few days…

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